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Irvine man used COVID relief loans to buy Ferrari, Bentley and Lamborghini, federal authorities say – Los Angeles Times

Mustafa Qadiri is suspected of misusing $5 million in pandemic relief loans to buy luxury sports cars, take lavish vacations and cover his personal expenses

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An Irvine man was arrested on fraud charges Monday after authorities say he used $5 million in pandemic relief loans to buy luxury sports cars, take lavish vacations and cover his personal expenses.
Mustafa Qadiri, 38, submitted bogus applications for federal loans under the Paycheck Protection Program on behalf of four Newport Beach businesses he purportedly ran, according to federal prosecutors. None of them are currently in business, they said.
Federal agents have seized Ferrari, Bentley and…

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